Bloomberg Opinion’s Europe columnist isn’t buying the Bitcoin price pump, and he thinks you shouldn’t either — but what’s he really on about?
The price of Bitcoin (BTC) surged to slightly above $5,000 yesterday morning, which was cause for celebration for many Bitcoin bulls looking for signs of a market bottom. Some in the mainstream media, however, are still in the business of throwing shade and spreading some FUD (fear, uncertainty, and doubt).
In a column titled “Bitcoin Is Surging Again. Just Ignore It.” Leonid Bershidsky prefaces his opinion piece by stating, “Whatever the explanation, there’s no good reason to turn bullish on crypto.”
But is he really struggling to find a good reason? If so, we can help him.
No Good News (Except The Good News)
Bershidsky boldly claims that there has been no good news about cryptocurrencies, stating:
There has been no good news about cryptocurrencies lately — they aren’t acquiring greater acceptance as investments or payments, and the crypto experiments of…